Matthew Caufield, an analyst from H.C. Wainwright, reiterated the Buy rating on Phathom Pharmaceuticals (PHAT – Research Report). The associated price target remains the same with $28.00.
Matthew Caufield has given his Buy rating due to a combination of factors related to Phathom Pharmaceuticals’ strategic positioning and growth potential in the GERD treatment market. The company’s product, VOQUEZNA, is poised for significant growth due to its novel mechanism as a potassium competitive acid blocker (PCAB), which has been well-received by prescribers, particularly for treating non-erosive GERD (NERD) patients. The rapid adoption by primary care physicians and the substantial increase in filled prescriptions underscore its commercial potential.
Furthermore, the company’s efforts to secure extended New Chemical Entity exclusivity for VOQUEZNA could enhance its market position and protect its revenue stream until 2032. Additionally, Phathom Pharmaceuticals is advancing its pipeline with a Phase 2 trial for VOQUEZNA in eosinophilic esophagitis, which could expand its therapeutic applications and drive further growth. These strategic initiatives, coupled with the potential for on-demand use of VOQUEZNA, support the Buy rating and the $28 price target.
According to TipRanks, Caufield is an analyst with an average return of -13.2% and a 29.08% success rate. Caufield covers the Healthcare sector, focusing on stocks such as 4D Molecular Therapeutics, Opus Genetics, and Phathom Pharmaceuticals.
In another report released yesterday, Stifel Nicolaus also reiterated a Buy rating on the stock with a $28.00 price target.